For UK investors


Schroders operates a full equalisation policy for the below specified fund ranges with the objective that the income yield of a reporting Fund Share Class is unaffected either by incoming or outgoing investors. The equalisation amount corresponds to the income earned by the reporting Fund Share Class up to a particular date in the reporting period. Investors can use the equalisation figures published on Schroders website to determine their tax liability.

Reporting periodThe Fund Share Class period of account. This may be annual or shorter where a Fund Share Class is newly created.
Equalisation amountThe income earned by the Fund Share Class up to a particular date.


The equalisation amount is relevant to investors who have joined the reporting Fund Share Class part way through its reporting period and still hold the Shares at the period end. These investors will be allowed to deduct the equalisation amount on the Fund Share purchase date when calculating their taxable basis.

Investors who have joined the reporting Fund Share Class by way of share class switch should disregard equalisation entirely and therefore not deduct the equalisation amount.



Subscription of 10,000 shares on 25 May

DateEqualisation rate per share (in Fund Share Class currency)
25 May0.123456


DateReportable income per share (in Fund Share Class currency)
31 December0.987654


Taxable basis is as follows:

AB(A-B) x 10,000
Reportable income per shareEqualisation rate per shareTaxable basis

Note that the above is an example only and the figures used therein do not reflect the actual equalisation or reportable income amounts of any Fund Share Class.

For the equalisation rates per fund range, please refer to the links below

Risk warning:

Nothing on this page should be construed as advice and is therefore not a recommendation to buy or sell shares. For tax advice investors should contact their tax representative.

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Please consider a fund's investment objectives, risks, charges and expenses carefully before investing.

The website and the content included is intended for US-based financial intermediaries (and their non-US affiliates) on behalf of those of their clients who are both (a) not “US persons” as that term is defined in Rule 902 under the United States Securities Act of 1933, as amended (the “1933 Act”) and (b) “non-United States persons” as that terms is defined in Rule 4.7(a)(vi) under the Commodity Exchange Act of 1936, as amended. None of the funds described herein is registered as an “investment company” as that term is defined in the United States Investment Company Act of 1940, as amended, and shares of the funds described herein have not been and will not be registered under the 1933 Act or the securities laws of any of the states of the United States. The shares may not be offered, sold or delivered directly or indirectly in the United States or for the account or benefit of any “US person.”

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Issued by Schroder Investment Management (Europe) S.A., 5 (“SIM Europe”), rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registered No. B 37.799

Schroder Investment Management North America Inc. (“SIMNA”) is an SEC registered investment adviser, CRD Number 105820, providing asset management products and services to clients in the US and registered as a Portfolio Manager with the securities regulatory authorities in Canada.  Schroder Fund Advisors LLC (“SFA”) is a wholly-owned subsidiary of SIMNA Inc. and is registered as a limited purpose broker-dealer with FINRA and as an Exempt Market Dealer with the securities regulatory authorities in Canada.  SFA markets certain investment vehicles for which other Schroders entities are investment advisers.

Schroders Capital is the private markets investment division of Schroders plc.  Schroders Capital Management (US) Inc. (“Schroders Capital US”) is registered as an investment adviser with the US Securities and Exchange Commission (SEC).  It provides asset management products and services to clients in the United States and Canada.  For more information, visit www.schroderscapital.com

SIM (Europe), SIMNA, SFA and Schroders Capital are wholly owned subsidiaries of Schroders plc.